Persol Holdings, a Japan-based recruitment company, saw business performance lag in the second quarter of 2020 as the effects of Covid-19 continued to hamper growth.
Persol has yet to recover from the impact of its decision to close part-time job site WebAn last year. The impact was compounded by the Covid-19 challenges.
However, the group posted Y2.9 billion in quarterly net profit, compared to a Y10.6 billion net loss same period last year. Operating profit increased 2.1% year-on-year to Y4.8 billion.
Persol Holdings recorded profits of Y7.6 billion in H1 2020, compared to a loss of Y5.2 billion in the corresponding period a year earlier. The group saw revenue fall 2.8% year-on-year to Y465.8 billion. Operating profit dropped 31% to Y13.9 billion.
Persol Career, the group’s strategic business unit that operates various job verticals, saw a sharp 42.1% drop in sales to Y12.9 billion in Q2. The unit recorded operating losses of Y1.4 billion against Y4.4 billion in operating profit a year earlier.